Quidel (NASDAQ:QDEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $75.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 13.53% from the company’s current price.
According to Zacks, “Quidel Corp. discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women’s health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. “
Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Quidel from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. Canaccord Genuity increased their price target on shares of Quidel from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Craig Hallum increased their price target on shares of Quidel from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Raymond James reiterated a “strong-buy” rating and issued a $80.00 price target on shares of Quidel in a research note on Tuesday, October 23rd. Finally, Barclays increased their price target on shares of Quidel from $65.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $74.14.
NASDAQ:QDEL traded down $2.34 during mid-day trading on Thursday, hitting $66.06. The stock had a trading volume of 246,241 shares, compared to its average volume of 224,066. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -943.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05. Quidel has a twelve month low of $33.01 and a twelve month high of $77.63. The company has a quick ratio of 0.71, a current ratio of 1.10 and a debt-to-equity ratio of 0.22.
Quidel (NASDAQ:QDEL) last issued its earnings results on Tuesday, November 6th. The company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The firm had revenue of $117.40 million for the quarter, compared to analysts’ expectations of $120.09 million. Quidel had a net margin of 7.26% and a return on equity of 27.28%. The firm’s revenue was up 130.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. On average, equities analysts anticipate that Quidel will post 2.55 EPS for the current year.
In other news, Director Thomas D. Brown sold 15,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $70.12, for a total transaction of $1,093,872.00. Following the transaction, the director now directly owns 61,758 shares in the company, valued at $4,330,470.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas C. Bryant sold 7,217 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $65.10, for a total transaction of $469,826.70. Following the transaction, the chief executive officer now owns 301,530 shares in the company, valued at $19,629,603. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,667 shares of company stock worth $11,298,592. Insiders own 16.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in QDEL. Winslow Evans & Crocker Inc. lifted its holdings in shares of Quidel by 26.8% during the third quarter. Winslow Evans & Crocker Inc. now owns 4,470 shares of the company’s stock worth $292,000 after purchasing an additional 944 shares during the period. Essex Investment Management Co. LLC lifted its holdings in shares of Quidel by 3.5% during the third quarter. Essex Investment Management Co. LLC now owns 35,785 shares of the company’s stock worth $2,332,000 after purchasing an additional 1,194 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Quidel by 55.8% during the second quarter. Great West Life Assurance Co. Can now owns 3,405 shares of the company’s stock worth $227,000 after purchasing an additional 1,220 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Quidel by 8.8% during the second quarter. MetLife Investment Advisors LLC now owns 15,132 shares of the company’s stock worth $1,006,000 after purchasing an additional 1,229 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of Quidel by 6.2% during the third quarter. American International Group Inc. now owns 22,681 shares of the company’s stock worth $1,478,000 after purchasing an additional 1,316 shares during the period. Institutional investors and hedge funds own 88.38% of the company’s stock.
Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology. The company offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus products point-of-care products for the detection of infectious and inflammatory diseases and conditions of the eye.
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